Business during the first session in 2001 was pumped up by a dispersal of horses formerly owned by Ernest L. Cossey and his associates, who were involved in a variety of business ventures that were operated under the TLC Ameica banner. Cossey and his partners were sued by the Securities and Exchange Commission in 2000 for defrauding investors in a real estate scheme. Some of the investors' money was used to purchase horses.This year's second session, scheduled for Wednesday, will include horses owned by Bella Thoroughbreds, which is operated by Michele Serrao and Bryan Rosenquist, The two face charges that they embezzled $12.7 million from Bank of America. A trial in U.S. District Court in Oakland is scheduled for early March.
Multiple stakes winner Song of the Moment sold for $72,000 to Sid and Jenny Craig on Tuesday to top the first session of the Barretts January mixed sale in Southern California. A 4-year-old daughter of River Special, Song of the Moment captured the Juan Gonzalez Memorial Stakes at Pleasanton and the restricted Solano County Juvenile Filly Stakes at Solano in 2000. In her only outing this year, she finished third in the restricted Survive Stakes at Santa Anita Park on Jan. 2.Song of the Moment was consigned to the sale by John and Betty Mabee's Golden Eagle Farm. An earner of $161,016, the filly finished second or third in four added-money events prior to this year.In all on Tuesday, 207 horses were sold for a gross of $1,567,500, an average of $7,572, and a median of $4,500. Compared to 2001's first session, the number sold and gross were down by 4.2% and 59.2%, respectively. The average and median were down by 57.4% and 25.0%, respectively. The buy-back rate for this year's first session was 11.5%, according to Barretts.